NEM (XEM) Trading Resumes on Coincheck Months After Hack

After ten months of stagnancy, the newly re-opened Japenese cryptocurrency exchange Coincheck has resumed its NEM (XEM) trading. According to a South Korean news source FNNews, Coincheck has restricted its platform by external ‘security experts.’

NEM (XEM) Trading Resumes on Coincheck

Back in January, Coincheck suffered the largest cryptocurrency exchange hack in history. $530 million USD worth of XEM was stolen from the Japanese exchange. After the investigation, the company announced it would repay the 260,000 investors affected by the hack.

“We would like to offer our sincerest apologies to our customers, other exchanges, and everyone else affected by the illicit transfer of NEM which occurred on our platform. We vow to take action on all of the points listed in the business improvement order handed down from the Financial Services Agency as we work towards resuming normal business operations. Currently, we have suspended various features of our platform including new registrations. Thank you for your patience and understanding.”

Since the incident, NEM purchases and deposits have been completely halted on the Coincheck platform. In addition to NEM, the exchange will soon open up support for both Ethereum (ETH) and Lisk (LSK).

Back in March, the Financial Services Agency (FSA) of Japan gave the company a business improvement order. The ‘watchdog’ demanded that the company undergo drastic reforms to its exchange platform, which included enhanced anti-money laundering (AML) and counter-terrorism financing (CFT) measures.